Parsons Capital Management Inc. RI reduced its position in Marathon Petroleum Corp (NYSE:MPC) by 2.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 21,690 shares of the oil and gas company’s stock after selling 535 shares during the period. Parsons Capital Management Inc. RI’s holdings in Marathon Petroleum were worth $1,212,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of MPC. Dimensional Fund Advisors LP lifted its holdings in shares of Marathon Petroleum by 70.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,065,459 shares of the oil and gas company’s stock valued at $593,940,000 after purchasing an additional 4,153,879 shares during the last quarter. Thoroughbred Financial Services LLC increased its position in Marathon Petroleum by 5,858.7% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 974,491 shares of the oil and gas company’s stock valued at $97,449,000 after acquiring an additional 958,137 shares during the period. Ceredex Value Advisors LLC increased its position in Marathon Petroleum by 34.3% in the 1st quarter. Ceredex Value Advisors LLC now owns 3,466,868 shares of the oil and gas company’s stock valued at $207,492,000 after acquiring an additional 886,212 shares during the period. Geode Capital Management LLC increased its position in Marathon Petroleum by 8.3% in the 4th quarter. Geode Capital Management LLC now owns 8,732,890 shares of the oil and gas company’s stock valued at $514,399,000 after acquiring an additional 671,836 shares during the period. Finally, Conning Inc. increased its position in Marathon Petroleum by 3,984.0% in the 1st quarter. Conning Inc. now owns 594,182 shares of the oil and gas company’s stock valued at $35,562,000 after acquiring an additional 579,633 shares during the period. 76.94% of the stock is owned by institutional investors and hedge funds.
NYSE MPC traded up $0.60 on Friday, hitting $46.00. 178,196 shares of the company’s stock were exchanged, compared to its average volume of 5,551,199. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.24 and a quick ratio of 0.63. The firm’s 50-day moving average price is $53.67 and its two-hundred day moving average price is $56.78. Marathon Petroleum Corp has a fifty-two week low of $43.96 and a fifty-two week high of $88.45. The firm has a market cap of $31.04 billion, a price-to-earnings ratio of 6.78, a P/E/G ratio of 1.31 and a beta of 1.68.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 4.61%. The ex-dividend date is Tuesday, August 20th. Marathon Petroleum’s payout ratio is 31.27%.
In other Marathon Petroleum news, Director James E. Rohr bought 12,500 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were bought at an average price of $48.14 per share, for a total transaction of $601,750.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.06% of the company’s stock.
Several equities analysts recently issued reports on the company. Credit Suisse Group dropped their price target on Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, May 13th. Morgan Stanley dropped their price target on Marathon Petroleum from $82.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, May 17th. ValuEngine upgraded Marathon Petroleum from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 22nd. Royal Bank of Canada dropped their price target on Marathon Petroleum from $71.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Finally, Cowen cut Marathon Petroleum from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $90.00 to $65.00 in a research report on Friday, May 10th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Marathon Petroleum presently has an average rating of “Buy” and an average target price of $82.62.
Marathon Petroleum Company Profile
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.
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